Baillie GiffordⓘTrim-24.14%$461M0.42%Long-term growth / Global allocation
MarkelHold$216M1.64%Insurance float / Long-term value
What managers sayⓘ
2026-07-31Scottish American Investment Company / SAINTS (Baillie Gifford)BullScottish American Investment Company Interim Financial Report - June 2026Detail →
2026-07-01Scottish American Investment Company / SAINTS (Baillie Gifford)NeutralSAINTS Valuation - 31 May 2026Detail →
2025-12-31FundsmithBullFundsmith Equity Fund Annual Report 2025Detail →
2025-09-30Baillie Gifford Global Alpha Growth FundNeutralBaillie Gifford UK & Balanced Funds ICVC Interim Report - July 2025Detail →
2025-06-30FundsmithBullFundsmith Equity Fund Interim Report 2025Detail →
2024-12-31FundsmithBullFundsmith Annual Letter to Shareholders 2024Detail →
2024-12-31FundsmithBullFundsmith Equity Fund Annual Report 2024Detail →
Earnings Callsⓘ
Q1 2026April 22, 2026
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```markdownOverview Conclusion This quarter's results exceeded expectations, primarily driven by strong growth in the industrial and data center markets, with stable pricing.
Key Data Revenue $480 million, +19% YoY; industrial market +30% YoY, data center +90% YoY.
Business Progress Industrial growth was broad-based, with all sub-sectors and regions expanding; data center remained strong, driven by AI; automotive was flat but near its peak. The acquisition of Silicon Labs strengthened embedded wireless connectivity, and the company has secured $555 million in CHIPS Act funding. Inventory days fell to 209, and capacity is well prepared.
Guidance and Outlook Q2 revenue guidance $500–$540 million, above seasonal levels; EPS $1.77–$2.05. Management expects 2026 free cash flow per share to "easily reach $8", but emphasizes the need to assess demand sustainability.
Risk/Highlight Signals Positive: Structural growth in industrial and data center is clear, and pricing may be raised. Negative: Management warns of a "false start" risk and remains cautious on the second half.```